Fly News Breaks for May 23, 2019
May 23, 2019 | 06:37 EDT
Cowen analyst Nick Yako initiated Proofpoint with an Outperform rating and $140 price target, saying he believes the company has the ability to maintain 20% revenue growth in the 2019-2024 period as a "sizable" opportunity still exists for core email security products plus growing demand for its broad product suite. In a research note to investors, Yako says shares look attractive at current levels given its growth and free cash flow margins, ranking near the top of all software companies, yet trading at a discount.
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